Standard Quantity or Hours Standard Price or Rate $1.60 per Direct materials Direct labor Variable overhead 4.5 kilos 0.8 hours 0.8 hours kilo hour hour $26.60 per $6.60 per In January, the company produced 6,400 units using 30,340 kilos of the direct material and 5,060 direct labor-hours. During the month, the company purchased 32,720 kilos of the direct material at a total cost of $60,900. The actual direct labor cost for the month was $132,140 and the actual variable overhead cost was $32,469. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. (Round your intermediate calculations to 2 decimal places and your final answers to the nearest whole dollar.) Required a. Compute the materials quantity variance laterials quantity variance b. Compute the materials price variance terials price variance c. Compute the labor efficiency variance abor efficiency variance d. Compute the labor rate variance Labor rate variance e. Compute the variable overhead efficiency variance. riable overhead efficiency variance